The global LPG industry in 2023

Source: World LPG Association, Annual Report 2023

Commentary: According to the World LPG Association’s 2023 annual report, global production of LPG exceeded global demand by a slight margin of 2 million metric tons. In the U.S., 90 percent of LPG production comes from gas processing. The residential market accounts for 45 percent of global LPG demand, and the majority of that demand comes from the Asia-Pacific region. North America is the largest regional consumer of LPG for agriculture, but agriculture accounts for less than 1 percent of global LPG consumption. Demand for LPG in Canada rose 25.2 percent across all markets.